2 June 2025
Convatec Group Plc
("Convatec" or "the Company")
Director/ PDMR Shareholding
Following approval of the Company's Remuneration Policy by shareholders at the Company's Annual General Meeting on 22 May 2025, the Company has been notified of the following transactions in relation to Persons Discharging Managerial Responsibility ("PDMR") in respect of ordinary shares of 10 pence each in the Company ("Shares").
Grant of Performance Share Awards ("PSAs") under the Convatec Group Omnibus Incentive Plan 2025 ("LTIP")
On 2 June 2025, the following conditional awards were granted to Karim Bitar, Chief Executive Officer, in the form of Performance Share Awards ("PSAs") under the LTIP:
| Name | Number of Shares awarded as PSAs |
| Karim Bitar | 461,737 |
The PSAs are due to vest on 11 March 2028 at nil cost, conditional on the following performance conditions: organic revenue growth; three-year compound annualised growth in adjusted Earnings per Share; and three-year Relative Total Shareholder Return rank vs constituents of S&P Global Healthcare Equipment & Services index, and are subject to a two-year post vesting holding period.
The three-day average share price, closing on 10 March 2025, of £2.6573 was used in determining the award, to align awards with the core LTIP awards made on 11 March 2025, as detailed within RNS reference 3962A released by the Company on 11 March.
Grant of Restricted Stock Unit Awards ("RSUs") under the LTIP
Also on 2 June 2025, the following conditional awards were granted to Karim Bitar, Chief Executive Officer, and Jonny Mason, Chief Financial Officer in the form of RSUs under the LTIP:
| Name | Number of Shares awarded as RSUs |
| Karim Bitar | 369,389 |
| Jonny Mason | 150,434 |
These RSU are due to vest on 11 March 2028 at nil cost, conditional on continued employment and subject to a two-year post vesting holding period.
The three-day average share price, closing on 10 March 2025, of £2.6573 was used in determining the awards, to align awards with the core LTIP awards made on 11 March 2025, as detailed within RNS reference 3962A released by the Company on 11 March 2025.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a)
| Name
| Karim Bitar | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Executive Officer and PDMR | ||||
| b)
| Initial notification /Amendment
| Initial Notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Convatec Group Plc | ||||
| b)
| LEI
| 213800LS272L4FIDOH92 | ||||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
| a)
| Description of the financial instrument, type of instrument | Ordinary share of 10p each in Convatec Group Plc | ||||
| | | |||||
| Identification code | GB00BD3VFW73 | |||||
| | | |||||
| b)
| Nature of the transaction | Grant of PSA under the Convatec Group Omnibus Incentive Plan 2025 (LTIP) | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information | | ||||
| | | |||||
| - Aggregated volume | N/A - single transaction | |||||
| | | |||||
| - Price | | |||||
| | | |||||
| e)
| Date of the transaction
| 2 June 2025 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
| | | | ||||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
| a)
| Description of the financial instrument, type of instrument | Ordinary share of 10p each in Convatec Group Plc | ||||
| | | |||||
| Identification code | GB00BD3VFW73 | |||||
| | | |||||
| b)
| Nature of the transaction | Grant of RSU under the Convatec Group Omnibus Incentive Plan 2025 (LTIP) | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information | | ||||
| | | |||||
| - Aggregated volume | N/A - single transaction | |||||
| | | |||||
| - Price | | |||||
| | | |||||
| e)
| Date of the transaction
| 2 June 2025 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a)
| Name
| Jonny Mason | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Financial Officer and PDMR | ||||
| b)
| Initial notification /Amendment
| Initial Notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Convatec Group Plc | ||||
| b)
| LEI
| 213800LS272L4FIDOH92 | ||||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
| a)
| Description of the financial instrument, type of instrument | Ordinary share of 10p each in Convatec Group Plc | ||||
| | | |||||
| Identification code | GB00BD3VFW73 | |||||
| | | |||||
| b)
| Nature of the transaction | Grant of RSU under the Convatec Group Omnibus Incentive Plan 2025 (LTIP) | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information | | ||||
| | | |||||
| - Aggregated volume | N/A - single transaction | |||||
| | | |||||
| - Price | | |||||
| | | |||||
| e)
| Date of the transaction
| 2 June 2025 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
Enquiries
James Kerton Company Secretary
Tel: +44 (0)7827 036059
Email: cosec@convatec.com
Convatec Group Plc's LEI code is 213800LS272L4FIDOH92
Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation
About Convatec
Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in Advanced Wound Care, Ostomy Care, Continence Care, and Infusion Care. With more than 10,000 colleagues, we provide our products and services in around 90 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. Convatec's revenues in 2024 were over $2 billion. The company is a constituent of the FTSE 100 Index (LSE: CTEC). To learn more please visit http://www.convatecgroup.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.